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Allergan Q2 income, revenue up YOY; raises FY'17 guidance

Allergan plc reported $1.44 billion, or $4.02 per share, in second quarter non-GAAP earnings, an increase from $1.40 billion, or $3.35 per share, in the same quarter of 2016.

The S&P Capital IQ normalized EPS consensus estimate for the second quarter was $3.92.

Allergan generated $4.01 billion in second-quarter revenues, an increase of 8.8% year over year. "Revenue growth in the second quarter was powered by significant year-over-year gains from many of our top products, solid contribution from our launch products and successful integrations of LifeCell and ZELTIQ," Allergan Chairman and CEO Brent Saunders said in a statement.

The company reported second quarter non-GAAP adjusted EBITDA of $2.03 billion, an increase of 4.8% year over year. The company's second quarter adjusted operating income was up 1.6% year over year to $1.89 billion.

Allergan's second-quarter GAAP loss widened year over year to $717.5 million, or $2.14 per share, from $424.4 million, or $1.07 per share, in the same quarter of 2016.

The company's second quarter operating loss also widened to $902.4 million from $487.6 million in the second quarter of 2016.

Allergan raised its full-year non-GAAP EPS guidance to a range of $16.05 to $16.45 from $15.85 to $16.35 previously.

The S&P Capital IQ normalized EPS consensus estimate for 2017 is $16.08.

Full-year 2017 GAAP loss per share is now expected to be in the range of $10.80 to $11.20 as opposed to $9.70 to $10.20 previously.

The company raised its full-year revenues guidance to a range of $15.85 billion to $16.05 billion from $15.80 billion to $16 billion previously.